Kraken Expands its Offerings with SHIB, PEPE, WIF Futures

Kraken is shaking up the crypto scene by expanding its memecoin offerings. The Kraken exchange announced that Shiba Inu (SHIB), Pepecoin (PEPE), and Dogwifhat (WIF) will now be available for futures trading.

Shiba Inu (SHIB) Boosts Its Profile

Since its launch in November 2021, Shiba Inu (SHIB) has been a significant player on Kraken. The exchange is now enhancing its role by making SHIB a collateral asset for futures trading. 

This new feature has excited SHIB enthusiasts. Kraken has also reduced trading fees and introduced a new margin trading pair for SHIB against the euro. 

Traders can now leverage up to 3X with this pair. Despite SHIB’s 6.44% decline in the past week, these updates might help improve its performance.

Pepecoin (PEPE) and Dogwifhat (WIF) Enter the Scene

Kraken has also added Pepecoin (PEPE) to its futures trading options. Traders can now access over 200 perpetual contracts using PEPE. 

This addition is expected to increase PEPE’s visibility and utility. On September 5, Kraken’s Canadian arm will list PEPE alongside WIF. 

Although PEPE has seen an 8.46% drop recently, the new trading options could drive up its demand. Dogwifhat (WIF) is also available as collateral for futures trading on Kraken. 

Holders can transfer WIF from their Spot wallet to their futures wallet, opening up new trading possibilities. Even though WIF has fallen by 11.55% to $1.53 in the past week, this new feature could enhance its liquidity and potentially lead to a price rebound.

By adding SHIB, PEPE, and WIF to its futures trading, Kraken is strengthening its position in the memecoin market. Additionally, this will provide traders with new opportunities.